JLL has successfully advised on a landmark debt refinancing for Amingiri Holdings Pvt. Ltd., owner of the Hilton Maldives Amingiri Resort & Spa. This deal marks JLL’s first debt refinancing in the Maldives, enhancing its services in the region and potentially spurring growth in debt financing activities. JLL has a strong track record in the Maldives, having advised on about $2 billion in resort transactions to date.
JLL has recently announced a significant debt refinancing initiative for Amingiri Holdings Pvt. Ltd., the owner of the Hilton Maldives Amingiri Resort & Spa. This major transaction underscores JLL’s extensive experience within the Maldives hospitality sector, while simultaneously enhancing the company’s service offerings in this vital market. The firm anticipates that its advisory role will stimulate future debt financing opportunities in the Maldives, attracting a range of international lenders.
Amingiri Holdings Pvt. Ltd. is a subsidiary of Amin Construction Pvt. Ltd., a leading entity in Maldivian real estate. The debt refinancing was facilitated by JLL’s Hotels & Hospitality Group and Debt & Structured Finance teams from Singapore, collaborating with an international bank that served as the arranger, facility agent, and security agent for this loan arrangement.
Nihat Ercan, CEO of JLL’s Hotels & Hospitality Group in Asia Pacific, stated, “We have long provided innovative investment advisory solutions to the Maldives’ leading hotel owners and operators and proudly take our commitment to this market to another level by providing JLL’s first debt refinancing deal in the market. We believe there exists considerable interest in diverse refinancing programs in the Maldives that play to our strengths and ability to tailor solutions.”
The Hilton Maldives Amingiri Resort & Spa, which commenced operations in July 2022 and is managed by Hilton Worldwide, features 109 keys with beach and overwater villas. The resort is ideally situated on Amingiri Island in the North Malé Atoll and is conveniently accessible via a 20-minute speedboat ride from Velana International Airport.
Paul Brindley, Head of Debt Advisory at JLL for Asia Pacific, remarked, “Advising on a transaction of this scale in the Maldives is a landmark for the country’s hospitality industry and JLL’s evolving debt financing footprint regionally. There is considerable interest by hotel owners for more structured finance services, and our entry into the Maldives will open new doors for financing assets in this and other non-traditional markets.”
JLL recently celebrated its ranking as the top advisor for Asia Pacific Hotels investment sales in 2024 by MSCI Real Assets for the 13th consecutive year. To date, the firm has successfully advised on approximately $2.0 billion in resort transactions within the Maldives.
In conclusion, JLL’s advisory role in the debt refinancing of Hilton Maldives Amingiri Resort & Spa marks a pivotal development within the Maldives hospitality market. The transaction not only demonstrates JLL’s commitment to enhancing its service offerings but also signals a growing interest among hotel owners for structured finance solutions. As JLL continues to expand its footprint in this sector, the potential for increased financing activity in the Maldives appears promising.
Original Source: www.thehotelconversation.com.au
